Salt Lake Herald | 1897-04-16 | Page 8 | Spalding's Case

I SPALDINGS CASE Makes a Voluntary Assignment Judge Hortons Order Chicago April 15Charles W Spalding Spald-ing expresident of the Globe Savings bank and extreasurer of the University of Illinois made a voluntary assignment assign-ment to the University trustees of realty and bonds and securities approximating approx-imating SiOOOOO Some of the bonds conveyed are now in the hands of Receiver Leman of the Globe Savings bank and a desperate fight will be waged by the depositors of the bank to prevent them from going go-ing to the university Criminal proceedings pro-ceedings will rot be brought against the former treasurers by the trustees unless they cannot be indemnified for the money and bonds used by SpaldIng Spald-Ing But suits are to be begun against the First National bank Northwestern National bank and Metropolitan National Na-tional bank to recover 242000 bonds hypothecated or sold to these institutions Institu-tions by Spalding personally or through brokers Judge Horton today issued an injunction in-junction restraining Spalding from turning over to the University of Illinois Illi-nois the Idaho canal bonds which were found in the vaults of the bank by the receiver The complainant is James H Brady chief stockholder of the Idaho Falls Canal and Irrigation company which issued the bonds He claims to be the owner of the bonds The bonds in his name amounting to 162000 are part of the surplus which Spalding was to have settled his accounts with the university of which he was treasurer The injunction restraining Spalding from turning the bonds over to the university I uni-versity Interferes seriously with the settlement I